Now according to the Daily HODL, the CEO of SBI Holdings, Yoshitaka Kitao, is keen to increase and boost the adoption of Ripple’s payment solutions and propel XRP, so it dominates the cryptocurrency market. In a recent interview with Coin post, a Cryptocurrency news company, Kitao noted that Ripple and XRP will help kickstart the overall crypto market. He even mentioned that:
“Practical use for international remittances using distributed ledger technology (DLT) including Ripple’s digital asset, is getting widespread, and already big overseas companies like Santander and other banks are actually beginning to move. The major money mobility providers are also starting to introduce the use of xRapid, which uses XRP, and the number of companies participating in RippleNet is increasing substantially.”
This is fantastic news and no new surprise when it comes to Ripple and the XRP token. Ripple has been expanding fast and aggressively with over 200 companies in its network for cross-border transactions. Now Kitao argues that XRP has a clear use and purpose unlike that of Bitcoin which is still searching for its primary use case. He even argued that there is no value for Bitcoin and that Bitcoin’s current price makes it difficult to use in everyday practical situations. And it’s for these reasons that he believes XRP will reign as the number one cryptocurrency asset.
So what are my thoughts on all this?
I’m definitely bullish and keen to see Ripple succeed and for the XRP token to perform well, however, unlike Kitao’s approach I don’t believe that it’s one coin to rule them all market. I don’t think it’s going to be whether Bitcoin succeeds or Ripple succeeds, but I see a future where there is space for multiple currencies. Each one can dominate a specific niche as it provides a specific purpose. Bitcoin may become the next global Reserve, whereas XRP can be used to settle transactions fast and efficiently.
What are your thoughts on this situation guys?
Do you think XRP will be the token to rule them all?
Or do you think there’s space for multiple players in the market?
Let me know what you guys think in the comments below.
It’s Cindy with CryptoPig, Catch you guys around!
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